New Company Formation in UAE Freezone
Request a call back
New Business Formation in UAE Freezones
Setting up a UAE Freezone business involves selecting the appropriate freezone, determining the business activity, registering the company, obtaining the necessary licenses, and securing office space. This structure provides 100% foreign ownership, tax exemptions, and streamlined procedures.
- Complete Foreign Ownership: Investors can fully own their businesses without the need for a local partner.
- Tax Advantages: Enjoy exemptions from corporate and personal income taxes for a specified period, often up to 50 years.
- Repatriation of Capital and Profits: Businesses can repatriate 100% of their capital and profits without restrictions.
- Simplified Setup Process: Freezones provide streamlined procedures for business registration and licensing, making it easier for entrepreneurs to establish their operations.
- Strategic Locations: Many freezones are situated near key transportation hubs like seaports and airports, enhancing logistics and connectivity.
Freezone Authorities in UAE
SPC Freezone
Meydan Free Zone
Sharjah Media City Freezone
Ajman Freezone
RAKEZ Freezone
STRIP Freezone
UAQ Free Zone
Sharjah Freezone
Documents Required to Start a Business in Freezone
If you’re thinking about setting up a company in a freezone in the UAE, you’ll soon find out that there’s a bit of paperwork involved. While different free zones (and different business activities) may have their own requirements, here’s a handy overview of the core documents you’ll likely need. If you’re worried about the process, don’t stress—an experienced consultant can ensure everything goes smoothly. Let’s dive right in!
- Bank Reference Letter – A letter from the bank confirming the financial credibility of the shareholders.
- Personal Bank Statements – Typically, a six-month statement for each shareholder.
Registry Identification Code (RIC) Form – A notarized form required by some freezones for identification purposes.
Request a call back
Corporate Bank Account Opening
Certificate of Incorporation: Document confirming the company’s legal formation.
Trade License: Official license issued by the relevant UAE authority.
Share Certificates: Proof of ownership stakes held by shareholders.
Board Resolution: Document authorizing the opening of the bank account and assigning signatories.
Passport Copies: For all shareholders and authorized signatories.
Emirates ID Copies: For UAE resident shareholders and signatories.
Proof of Address: Utility bills or tenancy contracts verifying the residential addresses of shareholders.
Personal Bank Statements: Recent bank statements (typically 6 months) of the shareholders.
Company Profile: Overview of the company’s business activities, target markets, and financial projections.
Business Plan: Detailed plan outlining the company’s objectives, strategies, and financial forecasts.
